After witnessing a sharp decline in $COMP over the past few days, the MM and VCs have resumed their activities.
Starting from August 7th, Alameda, Cumberland, and Wintermute have taken actions to withdraw $COMP from Coinbase, Binance, and Kraken back to their personal wallets.
The total withdrawals from the MMs are as follows:
- Cumberland: 16,785 $COMP = $983,410
- Alameda: 38,592 $COMP = $2,140,199
- Wintermute: 8,650 $COMP = $475,600
Subsequently, through mixed hash subsidiary wallet addresses, the $COMP has been transferred to Wintermute for the purpose of distributing the received $COMP similar to previous instances.
Today, Wintermute has transferred 16,000 $COMP = $875,520 to Binance.
However, in order to distribute the accumulated stock, it's necessary to push the price to generate liquidity for the distribution of the stockpile.
The database also indicates significant buying pressure around the $55 price level and at $54.
The current $55 price range for $COMP is relatively safe, and we can consider investment opportunities while closely monitoring the actions of MM and VCs to avoid outflows at the present moment.
Moneyflow : scopescan.ai/moneyFlow/0xdbf5e9c5206d0db70a90108bf936da60221dc080?id=1691265941063630848&network=eth Show Less
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